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As a result, commercial cost estimating software applications were originally created to overcome these errors by using hard-coded formulas and data structures. Other benefits include the use of reference to cost databases (aka "cost books") and other data, predictable and professional looking reports, speed, accuracy, and overall process ...
In November 2010, CSI acquired Building Systems Design (BSD) to help advance software tools for specifications development and communication of building information across the building team. [ 2 ] [ 3 ] BSD is a software firm that is a leading developer of commercial master specifications and construction cost estimating software.
PRICE Systems’ cost estimating software was first developed in the 1970s when David Shore, a vice president in RCA's Government Group discovered that Frank Freiman, in the purchasing department, was able to predict the cost of military new systems with considerable accuracy before design was completed and a parts breakdown was available for ...
The most basic element of a cost estimate and therefore the cost database is the estimate line item or work item. [3] An example is "Concrete, 4000 psi (30 MPa)," which is the description of the item. In the cost database, an item is a row or record in a table (of items) and the description is a column or field for that record.
In July 2019, Procore acquired US project management software group Honest Buildings. [16] In October 2020, it acquired US estimating software provider Esticom. [ 17 ] Procore acquired construction artificial intelligence companies Avata Intelligence in 2020, and INDUS.AI in 2021.
On April 3 2017, RIB Software AG completed its conversion into a European Company (Societas Europaea/SE) and from then on traded under the name RIB Software SE. 2018–2019: Launch of MTWO On April 20, at the Signing Ceremony of MTWO in Hong Kong, China, RIB, and Microsoft jointly announced that they would work together on a Proof of Concept of ...
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